bussines news

Ethio Engineering Group (EEG) revealed that it had turned a profit after overcoming bankruptcy – which was prevalent over the past two years. The company celebrated this achievement by inaugurating its newly renovated main office building over the weekend. At the event, EEG CEO Ambassador Suleiman Dedefo emphasized the group’s renewed commitment to its mission …

Ethiopia: Ethio Engineering Group Celebrates Profit Overcoming Bankruptcy Read More »

Yagout Pay Financial Technology S.C. in partnership with EthSwitch S.C. unveiled a fully automated digital payment service today. Khalid Mohammed, Founder and CEO of Yagout Pay Fintech, in a press conference held today, stated that the technology is seamlessly integrated with EthSwitch so that customers can make payments with Payment cards issued by all banks …

Yagout Pay Financial Technology unveils digital payment system integrated with EthSwitch Read More »

Ethiopian Airlines has announced that it has signed a Memorandum of Understanding with AvDyne Aero Services, LLC. This strategic partnership solidified through this MoU, signifies Ethiopia Airlines’ mutual commitment to excellence in aviation, the Airline stated this morning. “Together, we aim to enhance the scope of aviation training and maintenance services, paving the way for …

Ethiopian Airlines inks MoU with AvDyne AeroServices LLC Read More »

The Ethio-Djibouti Railway Company has officially launched its new cargo container transport service. The company’s Chief Executive Officer, Takele Uma, and Djibouti Customs Director Guled Ahmed Youssef inaugurated the service yesterday. The new system can transport large quantities of goods such as wheat, edible oil, and fertilizer using trailers. The containers, designed to be mounted …

Ethiopia: Ethio-Djibouti Railway Launches New Cargo Container Service to Transport Wheat and Fertilizers Read More »

Despite investing heavily in industrial park development, Ethiopia has yet to fully realize its economic potential from these facilities. A high-level consultation between the Industrial Parks Development Corporation (IPDC) and the Ethiopian Investment Commission (EIC) revealed that while over 1.6 billion USD has been poured into 13 industrial parks over the past nine years, their …

Industrial Parks Generate Only USD 1.2 Billion in Nine Years Despite Heavy Investment Read More »

The amount of gold supplied annually from Southwest Ethiopia to the National Bank has plummeted from 800 kilograms to just 90 kilograms, according to G/Mariam Setegn, Director of the region’s Minerals and Energy Agency. Between 2007 and 2023 (2000 and 2015 E.C.), significant quantities of gold were regularly delivered to the National Bank, but in …

Gold Supply to National Bank Drops Sharply in Southwest Ethiopia Amid Illegal Trade Concerns Read More »

The Addis Ababa Traffic Management Authority has announced that newly approved regulations for vehicle parking services in the city will be implemented this week. The new rules aim to optimize the use of parking spaces, particularly those underutilized in buildings, and increase the overall supply of vehicle parking. The regulations apply to various parking facilities, …

Ethiopia: Addis Ababa Introduces New Parking Regulations Read More »

Toyo Solar, a subsidiary of Japan’s Toyo Corporation, has expressed its interest in capitalizing on investment opportunities available in Ethiopia’s Industrial Parks, as revealed by the Industrial Parks Development Corporation of Ethiopia (IPDC). This revelation came about during a meeting between IPDC’s CEO, Fisseha Yitagesu, and Toyo Solar’s Vietnam branch General Manager, Li Huang, which …

Toyo Solar targets $100M investment in Ethiopia with potential for 400+ employments Read More »

 Minister of Finance Mr. Ahmed Shide stated that Ethiopia has emerged as the top destination in East Africa for attracting foreign direct investment, solidifying its position as a beacon of economic growth and opportunity in the region. The Finance Minister made this statement at the Ethiopia-China High-Level Business Forum being held in Beijing on the …

Ethiopia tops foreign direct investment in East Africa – Finance Minister Read More »

The Minister of Foreign Affairs, Taye Atse-Selassie, stated that Ethiopia’s recent macroeconomic reforms have opened up new and promising opportunities for investors. In his speech at the Ethiopia-China High-Level Business Forum being held in Beijing, the foreign minister emphasized that Ethiopia values the principle of mutual benefit advocated by China. He assured that Ethiopia will …

Ethiopia’s recent economic reforms opened up new opportunities for investors – FM Taye Read More »